Moreno, CA Entrepreneur Gets SBA Loan to Buy Baskin-Robbins 31 Ice Cream Franchise

Need a loan to buy a Baskin-Robbins 31 Ice Cream franchise? Nara Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Baskin-Robbins 31 Ice Cream franchise is doable. In 2003, Nara Bank issued an SBA franchise loan to an entrepreneur in Moreno, California. Because Baskin-Robbins 31 Ice Cream was registered with the SBA's registry of franchises, this California small business loan was issued on an expedited basis.

SBA Loan Borrower

BASKIN ROBBINS #6151
MORENO, CA 92553

SBA Loan Lender

NARA BANK
3731 WILSHIRE BLVD, STE 1000
LOS ANGELES, CA 90010

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

9/30/2003

Loan Approval Gross Amount

$147,500

Loan Approval from the SBA

Of the total $147,500 loan amount, the SBA guaranteed $125,375.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Baskin-Robbins 31 Ice Cream franchise. At the time of the loan, the company had 8 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Nara Bank and they will explain how you can get an SBA loan for your company.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Role of Business Plan When Raising Money

SBA Banks in Los Angeles, California

Find an SBA Lender in California